The IIRA on Bahrain’s economic rating and has affirmed Bahrain with a rating of “A-” on both the foreign and local currency scales and has also assigned a short-term rating of a “A-2” on both.
On a national scale, the IIRA has assessed Bahrain’s ratings at “AAA/A-1”. The IIRA is the leading credit rating agency for the Islamic Financial Services industry.
“Bahrain’s fundamental strengths include a continuously positive current account surplus. Going forward, change to fee and levy structure as planned, may give limited, though much needed diversification to the country’s revenue base. The agency added that Bahrain has remained a net creditor in the global market,” the IIRA spokesman, in a statement said.
“Bahrain’s economy has remained resilient during the global financial crisis in 2008 and has posted positive real GDP growth throughout this period. Barring any unexpected political or economic development, the country is anticipated to grow at an improved pace in 2012,” the statement added.